Laid Off at 58 With a 401(k) Loan, She Thought She Had 60 Days to Replace the Money. The Tax Code May Give Her Much Longer.
· finance.yahoo.com
Most workers remember a 60-day clock ticking the moment they leave a job with an unpaid 401(k) loan, but the rule many people actually face works nothing like that warning, and the difference could save tens of thousands of dollars in taxes and penalties.
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Federal tax law gives laid-off workers with 401(k) loans until their tax return due date to roll over the offset amount, and that deadline could be ...